130,870 Shares in GXO Logistics, Inc. (NYSE:GXO) Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd acquired a new stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 130,870 shares of the company's stock, valued at approximately $6,819,000. Mediolanum International Funds Ltd owned approximately 0.11% of GXO Logistics at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in GXO Logistics by 111.4% in the third quarter. UMB Bank n.a. now owns 628 shares of the company's stock worth $33,000 after acquiring an additional 331 shares during the period. Signaturefd LLC lifted its position in GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company's stock valued at $48,000 after acquiring an additional 249 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in GXO Logistics by 37.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company's stock valued at $54,000 after acquiring an additional 282 shares during the last quarter. Mather Group LLC. grew its holdings in GXO Logistics by 170.7% in the second quarter. Mather Group LLC. now owns 1,110 shares of the company's stock worth $60,000 after purchasing an additional 700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of GXO Logistics by 920.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company's stock worth $64,000 after purchasing an additional 1,151 shares in the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group cut their target price on GXO Logistics from $71.00 to $66.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Citigroup initiated coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They set a "buy" rating and a $60.00 target price for the company. Susquehanna reduced their price objective on GXO Logistics from $75.00 to $73.00 and set a "positive" rating for the company in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their price objective on GXO Logistics from $61.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, GXO Logistics currently has an average rating of "Moderate Buy" and a consensus price target of $66.91.

GXO Logistics Trading Down 1.4 %

GXO stock traded down $0.84 during trading on Friday, reaching $61.12. 1,702,354 shares of the stock were exchanged, compared to its average volume of 1,619,626. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 43.97, a P/E/G ratio of 1.81 and a beta of 1.59. The business has a 50 day moving average price of $52.80 and a 200-day moving average price of $51.36. GXO Logistics, Inc. has a 1 year low of $46.07 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The business's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS. On average, research analysts predict that GXO Logistics, Inc. will post 2.78 earnings per share for the current year.

GXO Logistics Profile

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.